LabVantage Celebrates Customer Success with Record Number of Software Deployments in FY 2024
15.4.2024 14:05:00 CEST | Business Wire | Press Release
LabVantage Solutions, Inc., the leading provider of laboratory informatics solutions and services, including purpose-built LIMS solutions that allow labs to go live faster and at a lower total cost, today announced the global achievement of more than 100 software deployments or ‘Go-Lives’ by customers in fiscal year 2024 across all of the industries it supports, including pharmaceuticals, biotechnology, healthcare, oil and gas, and food and beverage.
The global life sciences LIMS market, currently valued at $1 billion, is expected to grow at an annual rate of 12-14% over the coming years, driven by a 10-12% yearly increase in user base.1 In this rapidly evolving sector, the demand for bespoke LIMS solutions that address the complexities of modern laboratory environments and deliver an integrated approach for scientific data management has become critical.
LabVantage has been at the forefront of this evolution, seamlessly integrating LIMS with ELN, LES, and SDMS into a unified lab informatics platform. This platform, developed in collaboration with its clients, not only streamlines laboratory processes but also provides critical business intelligence. The robust growth of LabVantage’s professional services organization has enabled the company to support customers anywhere in the world and increase the number of global software deployments by more than 50% year-over-year.
The successful implementations of LabVantage LIMS in the past year can be categorized into three distinct business cases as follows:
- Transition to Automated Data Management: Clients have moved from manual recording processes to the LabVantage LIMS platform for enhanced data management, retrieval, and traceability.
- Upgrading to Advanced LIMS: Organizations previously using in-house LIMS systems or other commercial solutions embedded with limited LIMS functionalities have now adopted LabVantage LIMS for more robust capabilities.
- Scaling Up Existing LIMS Use: Existing customers of LabVantage LIMS have extended the system to additional laboratories, driven by its proven effectiveness in enhancing laboratory productivity.
“Achieving more than 100 Go-Lives in a single year reflects the strength and scalability of our professional services. Our ability to support clients across diverse industries worldwide demonstrates our expertise in navigating complex laboratory ecosystems,” said Craig Bowie, Vice President of Professional Services at LabVantage Solutions. “The growth we've experienced is not just in numbers; it's in the value we bring to our clients, helping them to manage scientific data more efficiently at every stage. We see our growth as directly aligned with our clients' success – as they upgrade to more sophisticated systems or expand their usage of LabVantage LIMS, they are seeing tangible improvements in their operational productivity. This is the driving force behind our exceptional increase in global software deployments.”
For more information on LabVantage and its LIMS solutions, visit www.labvantage.com or email info@labvantage.com.
References: |
1. Frost RadarTM: Global Laboratory Information Management Systems (LIMS) for the Life Sciences Industry 2023 Report. |
About LabVantage Solutions
A recognized leader in enterprise laboratory software solutions, LabVantage Solutions dedicates itself to improving customer outcomes by transforming data into knowledge. The LabVantage informatics platform is highly configurable, integrated across a common architecture, and 100% browser-based to support hundreds of concurrent users. Deployed on-premise, via the cloud, or SaaS, it seamlessly interfaces with instruments and other enterprise systems – enabling true digital transformation. The platform consists of the most modern laboratory information management system (LIMS) available, integrated electronic laboratory notebook (ELN), laboratory execution system (LES), scientific data management system (SDMS), and advanced analytics; and, for healthcare settings, a laboratory information system (LIS). We support more than 1500 global customer sites in the life sciences, pharmaceutical, medical device, biobank, food & beverage, consumer packaged goods, oil & gas, genetics/diagnostics, forensic, and healthcare industries. Headquartered in Somerset, NJ, with global offices, LabVantage has offered its comprehensive portfolio of products and services to enable customers to innovate faster in the R&D cycle, improve manufactured product quality, achieve accurate record-keeping, and comply with regulatory requirements for four decades. For more information, visit labvantage.com.
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